The price of Solana (SOL) managed to recover slightly after witnessing dilution among market players at the end of December. Solana's price traded in the single digits at that point. However, SOL has seen a massive surge since that event. Its price has jumped by 76% over the past 60 days. Meanwhile, the data shows the crypto-whale cluster seems to have some other plans.
According to data provided by WhaleAlert, groups of crypto whales have been found to be making several major transactions across exchanges. The whale group has transferred more than 15 million SOL tokens (worth approximately $328 million) in the last 24 hours.
The whale group proceeded to transfer 14.4 million Solana tokens (about $310 million worth) to Coinbase, a crypto exchange in various transactions. However, the single largest transaction recorded by the tracker moved 2.07 million SOL (approximately $44.7 million worth).
The group of whales went on to transfer another 2.04 million SOL (worth approximately $44.03 million) to the same exchange. The tracker reports three more transactions moving 1.81 million Solanas each (worth approximately $117.5 million).
Solana prices have shown a jump of 117% based on Year To Date (YTD). Meanwhile, the group of whales that moved $310 million worth of Solana tokens to crypto exchanges could bring the price of Solana down in the future if crypto sentiment is in its favor. However, SOL traded in the red over the past 30 days as it posted a 6% decline before posting a 5% gain today.
Whale cluster trackers reported that unknown addresses accumulated around 922K Solana (worth approximately $20.2 million) amid the recent price surge. On the market side, Solana's price has surged by 5% in the last 24 hours. SOL traded at an average price of $21.58, at press time.
Its 24-hour turnover has increased by 42% to $826 million. Although it still holds a market cap of $8.1 billion.
